Ripple, one of the top blockchain firms, has been recognized as the leader in the realm of crypto/fiat payments by Tearsheet's Power of Payments Awards.

The company has stated that the award embodies "a remarkably innovative year" for Ripple and the broader cryptocurrency industry. 

According to Tearsheet, the event was meant to spotlight the leading firms in the realm of payments. 

Ripple ended up sharing the awards with such big names as multinational business software company Intuit. 

The company, which is mainly known for being associated with the controversial XRP token, appeared on the list because of its On-Demand Liquidity (ODL) product that makes it possible to bridge traditional finance with crypto. The company makes it possible to make cross-border payments more efficient, according to Tearsheet. 

Ripple's network already covers 55 countries, which is supposed to demonstrate the company's impact. 

Notably, Tearsheet has also mentioned Ripple's RLUSD stablecoin product, which has already entered its beta testing phase.

Furthermore, Ripple was lauded because of its focus on regulatory compliance. The fact that the company has secured some "crucial" licenses around the globe makes it a "deserving" awkward recipient, according to Tearsheet. 

As reported by U.Today, Ripple was also recently recognized as the best platform for cross-border payments by Juniper Research's Fintech & Payments Awards.

Meanwhile, the XRP price has surged by more than 2% over the past 24 hours.